Lapping would most likely be detected by a. Examination of canceled checks clearing in the cutoff bank
Question:
Lapping would most likely be detected by
a. Examination of canceled checks clearing in the cutoff bank statement.
b. Confirming year-end bank balances.
c. Investigating responses to accounts receivable confirmations.
d. Reviewing the aged accounts receivable trial balance.
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Step by Step Answer:
Lapping involves the fraudulent manipulation of accounts receivable to conceal the mis...View the full answer
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Related Book For 
Auditing Integrated Concepts And Procedures
ISBN: 9781260299397
5th Edition
Authors: Donald H. Taylor, G. William Glezen
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